Moody’s withdraws ratings of DTEK Holdings

Moody’s Investors Service said in a note yesterday that it assigned a B2 corporate family rating and B2 probability of default rating to DTEK Holdings. It also gave a provisional B2 rating to the proposed USD-denominated notes to be issued by DTEK Finance, a subsidiary of DTEK Holdings. The outlook on all the assigned ratings was negative. At the same time, Moody’s withdrew the B2 CFR and B2 PDR ratings of DTEK at the request of the issuer.  DTEK, formerly the Donbas Fuel & Energy Company and the energy asset holding of Ukraine’s largest company System Capital Management, announced earlier this week that it plans to make a USD-denominated Eurobond issue.